Stats NZ data shows annual inflation rose to 2.5%, above 2.2% at the end of last year.
Fonterra lifted its farmgate milk price forecast last month after improving market conditions.
OCR cuts possible from later this year, with Donald Trump set to shape year ahead in politics.
NBR asks leading economists about their economic predictions and why we should listen.
Economic growth could average 1.5%, while unemployment could peak at 5.2%, according to the Treasury.
Central bank would not have made any different decisions on monetary policy in the past five years under the new remit, Adrian Orr tells Finance and Expenditure select committee.
ANZ’s business confidence survey improved again in December, while inflation expectations nudged lower.
The Westpac-McDermott Miller consumer confidence gauge lifted 8.7 points in the December quarter.
New Zealand economy cools more than expected – with RBNZ pushed to stay on the sidelines.
New Zealand’s economy slowed faster than expected in the September quarter, with a 0.3% contraction.